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the obama care act. >> they should be willing to defund it. >> i oppose obama care. >> you can't really de-fund obama care. >> in de-funding obama care. >> please, stop obama care. >> cruz has found kind of a niche. >> attack on john boehner from the far right. >> john boehner is in a pretty tough spot. >> sympathy for john boehner. >> or else they will start to call it john boehner care. >> fire, egypt, immigration, the debt. >> there must be a response. >> our borders are now better staffed and better protected. >> the fire is now 20% contained. >> it is not easy being the president. >> john boehner and the house republican leadership have been clearly sending the message that they are not willing to shut down the government at the end of september in order to force the president to agree to de-fund obama care. the message is simple and clear. that will not work. we can't force the president to go along with de-funding obama care. that message? simple enough has enraged some of their tea party friends and right wing radio talk show hosts. >> the republican leadership, that would be boehn
is beginning to take shape around, yes, of course, the repeal of obama care. and last night at a heritage foundation defund obama care event in texas, senator ted cruz tried to rally conservatives. >> what happens next is president obama and harry reid are going to scream and yell those mean, nasty republicans are threatening to shut down the federal government. what has to happen after that is we've got to do something that conservatives haven't done in a long time. we've got to stand up and win the argument. why is it that every reporter in the media and a significant percentage of republicans assume with an impasse that president obama will never, ever, ever give up his principals so republicans have to give up theirs. if you have an impasse, you want to know one side or the other has to blink. how do we win this fight? don't blink! >> by the way, cruz was heckled at that event by people saying they wanted health care as well, but there were more supporters, as he said, than there were hecklers. earlier, though, former u.s. senator jim demint and president of the heritage foundation sa
president obama took the oath of office, hasn't it? he's a socialist, a communist, he's a marxist, we've heard it all. low information voters are buying this stuff. what's really bad about it all as we go into year six of president obama, now this white consecutive movement is starting to infiltrate into the legislative process in america and we sit here silent about it? i will not. this is dangerous for the country. and it needs to be directly addressed. governor dalrimble, own up, dude. do you want this stuff in your backyard in leaf, north dakota? is that the north dakota way? get your cell phones out. i want to know what you think. will conservatives have the character to condemn racism in america. text to 67622. go to our blog at ed.msnbc.com. we'll bring you the results later on in the show. for more, let's turn to hillary shelten of the naacp and ohio state senator nina turner. >> mr. shelton, it has been 50 years since the march on washington. we all want to feel like we're moving forward. but when stories like this prop up, when i go to alabama and hear these comments, i thin
. america has come a long way in 50 years. and the fact that barack obama is president of the united states means we can finish this journey toward what dr. king dreamed about. >> i can't help but think 50 years lighter all the things that martin luther king talked about are in place, racism, poverty, inequality. to see an african-american president up there in front of the lincoln memorial today. think about barack obama who had just turned 2 a few weeks prior when the speech was made. his mother and probably his grandparents were watching it, living in a segregated country where fire hoses were turned on americans. what a moment today. put the politics aside. to see that man 50 years later standing on the same step where martin luther king stood. >> it is amazing. wla last night he had a reception at the white house. when i waps standing in the east room and they brought in dr. king's sister and i saw the picture of george washington and looked at president obama it brought tears to my eyes. i was only 8 years old when the march happened. they never could have dreamed that the president o
barack obama was born, to go on the freedom ride, black people and white people couldn't be seated on a bus or a train together to travel through the south. so can our children grow up and eir children grow up, they will not see those signs. the only place that they would see those signs would be in a book, in a museum, or on a video. >> do you see some of the same trappings of resentment and fear in our modern-day politics? is that what you're warning of when you see some of those forces coming back? >> well, i think there is some forces want to create this sense of fear. they think the country is moving too fast or maybe becoming too progressive. the country is not the same country. people coming together. and in a short time, the minority will be the majority. >> is there backlash that comes with that in your judgment? >> well, i think, as americans, we must be prepared to make the adjustment and not be afraid. be courageous. be embracive. embrace a change. >> as you look at dr. king's message 50 years ago and we remember that it was a march on washington for jobs and freedom, o
the chemical weapon as tack. president obama made strong statements during an exclusive interview on pbs's newshour. >> we have looked at all the evidence and we do not believe the opposition possessed nuclear weapons -- or chemical weapons of that sort. we do not believe that given the delivery systems, using rockets that the opposition could have carried out these attacks. we have concluded that the syrian government, in fact, carried these out. and if that's so, then there need to be international consequences. >> the president also expresses concerns over chemical weapons being used against us here in the united states. >> their control over chemical weapons may erode where they're given to known terrorist organizations that in the past have targeted the united states. then there is a prospect, a possibility in which chemical weapons that can have devastating effects could be directed at us. and we want to make sure that that does not happen. >> president obama insisted that no final decision has been made on a military strike against syria. at the fort hood trial, a military jury se
shelling in the area. on saturday, president obama reviewed a range of options and possible targets with his national security team. the u.s. has already four destroyers nearby in the mediterranean sea, two within missile range. members of congress are comparing the situation to kosovo calling for surgical strikes using cruise missiles. >> i think we have to respond and i think we have to respond in conjunction with our nato allies, respond much as was done in libya with the nato allies and i think we cannot afford to sit back and wait. >> president assad says this morning, quote, failure awaits the united states if it attacks. comparing a conflict with syria to vietnam. >> well, i don't know. we could just kill you. actually. it wouldn't really be hard to find you and kill you. >> there is that. >> i mean, i don't think it's going to take us -- >> here's reuters. >> showing tepid support at home. only 25% of americans would want the u.s. to intercede, down five points from two weeks ago. andrew roberts writes in the "wall street journal," it takes a barbarian to employ poison gas.
commission, president clinton didn't seem fit to act on that. under president obama, that was passed through congress and signed into law. president obama signed the bill to fix that disparity with his attorney general eric holder looking on as he signed it. just two weeks ago attorney general eric holder issued dramatically new directions for federal prosecutors telling them essentially to stop charging people for most drug offenses in a way that would trigger those mandatory minimum sentences. a huge reversal. that's a huge reversal after 30 years of the laws and the guidelines always clamping down in the opposite direction. and then today biggest change yet. in november, colorado and washington state both passed ballot measures legalizing pot in small quantities for recreational use. lots of states have legalized the use of marijuana for medical purposes but in the last few years, more than a dozen states have done that. but in colorado and washington, voters said the police should not care why you are using pot. if you are wrusing pot to get intoxicated, to get high, that should not be i
economy. >> remember this morning from president obama to syria. it was about a year ago. >> we have been very clear to the assad regime but also to other players on the ground that a red line for us is we start seeing a whole bunch of chemical weapons moving around or being utilized. >>brian: after wednesday's alleged chemical attack it looks like the red line has been crossed again. for the u.s., it now seems to be preparing for a cruise missile launch perhaps. so what would an attack look like? joining us is fox news military analyst lieutenant general thomas mcinerny. general mcinerny, what do you think we should do? what's our best approach right now? >> well, i think we need to back the right team, and the supreme military council under general idr i s is the wrong team. they are muslim brotherhood booked by the kataras. the team we want to back is under colonel riad. let's talk about an air campaign. fundamentally similar to if we back the right people. if we don't back the right people, don't do it. here's what i would do. lay a host of upward of 200 tom hawks and conventional air
, and the obama administration saying it is ready to act in syria if needed. secretary jack lew on squawk saying moments ago the president will not negotiate over the debt ceiling. >>> good news for tiffany, and luxury, in that it was boosted by sales in china. >>> and the end of the era, bill ackman is bailing on jcpenney, and they are looki in ing to ses shares. >> and we will look at the new home sales to be released. >>> treasury secretary jack lew telling our own john harwood that the president will not e negotiate over the debt limit which could be reached in mid-octob mid-october. take a listen. >> we won't be negotiating over the debt ceiling and congress has authorized funding and committed to expenditures and now the question is do we pay the bills that the united states has incurred. it is the only way for that to do is for congress the act and act quickly. what we need in the economy is certainlity, and we don't need a self-inflicted wound or crisis at the last minute. congress should come back, and they should act. >> jim, they say when it rains, it pours and government is part of t
the u.s. would have to go it alone at this point if president obama wants to take action. the threat of that right now seems to be lessening a little bit. plus, of course, it is a friday before a holiday weekend so things are going to typically be quiet here. traders say before everybody gets back next week and the news flow really starts again. now, what's interesting though is we are seeing a little bit of a shift. the positive data out of the united states. that gdp number is keeping the dollar near a four-week high against the major currencies. of course, we are watching gold prices while we are under 1400, that critical level still hasn't been a bad month for gold. the second b consecutive month that we are going to see a gain for it. kelly, back to you. >> all right, jackie. thanks very much for that. >>> straight ahead, big lots seeing some big gains this week and spiking after reporting earnings are the big box retailers the best way to play retail? we'll talk about that. >>> plus, the government says it will not stop people in colorado and washington from smoking pot. we'll
, president obama returns from vacation and plans to sit down with the leading financial market regulators today. opinions from both sides of the aisle next. right now, 7 years of music is being streamed. a quarter million tweeters are tweeting. and 900 million dollars are changing hands online. that's why hp built a new kind of server. one that's 80% smaller. uses 89% less energy. and costs 77% less. it's called hp moonshot. and it's giving the internet the room it needs to grow. this&is gonna be big. hp moonshot. it's time to build a better enterprise. together. pcentury link provides reliable yit services like multi-layered security solution to keep your information safe & secure. century link. your link with what's next. >>> welcome back to "squawk box." president obama will be sitting down with the leading financial market regulators today to discuss their progress or lack of progress in implementing dodd/frank. joining us to talk about it, tony frato and jerod bernstein. hi, guys. >> hi, andrew. >> before we even go there, i have a joe question for jerod. i don't know if you heard u
of some u.s. embassies amid what the obama administration calls serious and credible threats by al qaeda. diplomatic facilities will remain closed in many of the countries you see right there throughout the middle east and africa until at least august 10th. >>> the global travel alert coming at the same time as a global travel conference is taking place in san diego. jane wells is there live. jane, how is the global industry taking all this in? >> well, they are sort of processing it today, this is the global business travel association meeting, 400 companies and 7,000 people, all of whom are getting used to traveling in a more dangerous world. >> business travelers have become much more accustomed to it, and in a global economy you know that you do have a higher risk profile than maybe in years past, but it's a fact of life, and we all deal with it. >> so he says companies are detailing products which help you track and redirect traveling employees to safety concur which manages travel bookings and expenses for companies and report a 23% revenue growth last week. it's introducing a new
by obama just a couple days after the jackson hole meeting here. but there is uncertainty over fed policy. there's a certainty over leadership and economic growth. all those things loom large here. and will be spending the next couple of days trying to figure out if we can get some guidance over where the fed is going here. the absence of a definitive statement by the fed chairman will have to mean another time to happen, simon. >> this is of their own making. the problem with nailing your colors to the mass with forward guidance is it doesn't work if you don't know where you're going to guide people to. if you're split or indecisive. that surely, steve, is what is happening here. they raise the question of tapering. you get the interest rates rising. you feel the pain around the world. but when you actually get to tapering you're not sure if the growth is going to be strong enough because you're not really sure if the fed has the courage of conviction at all. the market will find it very difficult to rally on it. >> you know, i like that analysis, simon, because you're right. you hitch y
it again, i'm not in. i don't believe this is the right call, not now. thankfully president obama is handling the situation very carefully. >> we have not yet made a decision, but the international norm against the use of chemical weapons needs to be kept in place nobody disputes or hardly anybody disputes that chemical weapons were used on a large scale in syria against its population. we're consulting with our allies and the international community. i have no interest in any kind of open-ended flit in syria, but we do have to make sure that when countries break international norms, that they're held accountable. >> very convincing, no question about it. i'm still not on board. i'm glad to see the president of the united states is backing away from his red line statement. we have to be fair about this. we do have a history of presidents misspeaking, and we need to give him some room here if he decides not to his syria soon. if president obama does, if he says yes to hitting syria, he needs to get the full approval of the congress. the president i think needs politically both demo
as the united states scrambles four warships to the region and waits for confirmation that syria president obama's so-called red line. frederick is in the capital of damascus to tell us more. hi, fred. >> yeah, carol, happened shortly after the u.n. inspectors left the hotel that they are staying at. what they have to do, they go into downtown damascus and government-held areas and then they have to cross the front line into rebel-held territory here on the outskirts of damascus. apparently, when their convoy was in the buffer zone between the government area and government-held area that's when the sniper opened fire on their vehicle and disabling the lead of their convoy. that vehicle had to be brought back. now it appears the weapon inspectors are on the ground. on a side note, carol, both sides agreed that there would be a cease-fire going on as the weapon inspectors are on the ground. i want to show you what's going on behind me because still very heavy artillerary fire going on in the outskirts of damascus. that is the area, some of the area wheres these alleged chemical weapon attacks too
obama and his national security team laid out their case for action against syria in a conference call with lawmakers. but here's where things get complicated. the british parliament voted down a strike and israel says it is unlikely to join as well. but france's president says his country can go ahead with plans to strike syria. all this is roiling the markets. oil dropping on news of the british vote late yesterday and you can see right there, things are slightly down this morning, but it is all quite marginal for now. but i'm still -- i'm still trying to understand what we as the u.s. are now supposed to do with all this given what is going on internationally. >> i think about it a lot. i never come up with any answers. it is like i'm debating myself. i feel like i could do a good job on both sides of the debate, which shows you that it is a quandary for anyone trying to deal with it. i got to say, i don't -- i feel a little bit of empathy for the president on this. even though i don't -- i think we put ourselves in this position. >> we put ourselves in a box. everybody agrees we pu
we're out there willy-nilly. >> reporter: that was president obama just days ago assuring the american public that the national security agency was not breaching the trust of its citizens. but a new report out today by "the washington post" may raise new concerns. after combing through the trove of documents leaked by former nsa analyst edward snowden "the post" reports the nsa has broken privacy rules thousands of times each year since 2008. "the post" says most of the incidents involved surveillance of americans and foreign intelligence targets on u.s. soil in ways that violate the program's rules. of those incidents, "the post" report most were unintended and many involved failures of due diligence or violations of standard operating procedure such as when an area code mixup caused the nsa to intercept a large number of calls from wrau washington, d.c., instead of egypt. the nsa response was quick. overnight the nsa released a statement, "nsa's foreign intelligence surveillance activities are continually audited and overseen internally and externally. when nsa makes a m
's justice department and the obama administration have taken heat for the lack of high level prosecutions over the meltdown in 2008. there haven't been cases but the record is mixed. in 2009 two hedge understood managers beat fraud charges. that was a setback. better luck when a cup of traders pleaded guilty and a third this year. lots of action on the civil side. the new york attorney general working with the doj sued jpmorgan and sued bank of america and standard & poor's among others. we know there is a push from high up in the justice department to move other crisis cases along. no specifics from holder other than we're not done yet. >> you know, it's interesting, scott, that this stuff is just starting to bubble to the surface even though the 5-year statute of limitations is approaching. when i was looking at some of the bank quarterly filingses a couple weeks ago they did start to disclose the doj is investigating us for mortgage-backed security cases. almost every bank in the mortgage market disclosed that. when i talk to people they said that was because at the staff level the ban
on now to major news, president obama making a statement moment ace go on egypt. he said the u.s. will cancel joint military exercises with egypt. to help us understand this, john harwood joins us live now from washington with more. john? >> kelly, it was a minimalist response by the president. you had some people including former advisers of his own saying that the united states should suspend or cut off military aid to the egyptian government. the president did not do that. he said that they were going to cancel those bright star military exercises scheduled for next month and continue to consult with his national security team on other steps. what he was trying to do was signal united states concern but not do anything to significantly weaken the relationship between the united states and the egyptian military. there will be more pressure if the violence continues. for now, this is all the president is doing. >> it's a dangerous position, though, john, that they find themselves in. on the one hand condemning the violence but on the other refusing to support the regime. i it'
, and how do you prevent that from an open-ended involvement in a war that clearly president obama and the united states military does not want to get involved with in a deep way. >> the public apparently has no appetite for any other conflict? russia immediately said, you know, don't -- you people don't need another adventure in the middle east like iraq and iran. obviously saying the same thing. it's really tough. it's really tough for the president to try to walk. >> reporter: it's more than tough. and you saw assad in an interview with a russian newspaper yesterday saying -- warning the united states that you get involved again, there's going to be a failure like all your interventions in the past. clearly the lessons of long and protracted wars have weighed heavily on the president. this is a president, after all, who got into politics, opposing the iraq war. says he doesn't oppose all war, but he opposes dumb wars, and it's pretty clear from his language and body language and the entire stance of the united states over the last several months that he believes it would be dumb
a roundup of some of the top stories. the obama administration has overturn add u.s. trade panel's ban on the sale of some older iphones and ipads. this move reverses a ruling that had favored samsung over apple in that long running patent battle. the u.s. trade representative says that the decision was based in part on the effect of the competitive conditions in the u.s. economy and the effect on u.s. consumers. this is big news, though. shares of samsung were actually down overnight. just about 1%. apple shares, if you want to take a look at where things stand at least right now, up just barely. again, this is some pretty significant news. we will continue to watch those stocks today. >>> also, the london metal exchange and goldman sachs are being sued over alleged anti-competitive and monopolistic behavior when it comes to aluminum storage. the lme's owner says it will fight the class action lawsuit. we have been talking in recent weeks about this. wall street banks facing increased scrutiny in their involvement in the business for storing and transporting commodities like oil and a
with samsung. the obama administration vetoing a ban on apple products. share of samsung are falling in asia. >> tv blackout, battle between time warner cable and cbs show nothing signs of letting up. >>> the terror threat overseas. many u.s. embassies stay closed now until august 10th. a live report from nbc's pete williams. >>> first up, if you didn't see it, u.s. equity funds saw a record inflow in july. according to trim tabs funds saw $40.3 billion coming in last month while bond funds saw the fourth highest outflow on record. david seeburg at cowan. good monday morning to you. >> good morning. >> david, is this the beginning of something new? >> it seems to be. i mean, $40 billion in july, amazing. still a ton of cash on the sidelines. there's about $9.5 trillion in xhrgs bank deposit and money mark accounts, companies obviously corporate balance sheets reflecting cash. m&a starting to pick up it's the beginning of a rotation that we expect to take equities higher. >> peter, how do you read things here. >> s&p gone from 666 to 1700 without the retail investor. retail money's coming in,
.s. treasury. president obama is calling for both lenders to be shut down. diana olick joins us now from washington to explain why. morning, diana. >> good morning. and, you know, profitability just has nothing to do with it in the eyes of the obama administration. both fannie and freddie reporting big earnings, profits, yet they're still held to blame for much of the housing crash. >> for too long these companies were allowed to make huge profits buying mortgages knowing that if their bets went bad, taxpayers would be left holding the bag. it was heads we win, tails, you lose. and it was wrong. >> that was then and this is now. fannie mae reporting net income of $10.1 billion and paying the treasury $10.2 billion in dividends. that brings the total to $105 billion paid to uncle sam which bailed out fannie mae in 2009 buying $117 billion in senior preferred shares of stock. these dividend payments though do not go to pay back that bailout. treasury still owns that stock. and on the conference call this morning, fannie mae's ceo said that profitability should not slow the appropriate deba
this is a conspiracy between me and president obama or i was soliciting money from people who had some affiliation with him. the documentary evidence is overwhelming. he committed fraud on an ongoing basis. he fleeced people who couldn't afford the money out of $40 million. maybe the most despicable thing his instructors told students, you have to raise your credit limits. call your credit card companies, get more credit if you want to succeed in real estate and folks used that increased limit to pay more money to trump and went further into debt. despicable scheme and he's going to pay for it now. >> any other name than trump, this story doesn't get any pick-up, nobody notices it. to those who say it's an opportunity for you to increase your public profile and that of your office, how do you respond? >> i'm responding to him. i mean he went in the newspapers on saturday and started talking about it. and making crazy accusations against me. so, we're not going to sit down and let him make fall accusations and lie what the case is about. this is a classic bait and switch scheme. you have to sent a
the obama tax rates which could be pushing them up into a 50% bracket which lends you to see a taxable equivalent yield of 9% to 9.2%. that's a lot to pass up for an investor who is getting asurety of that return. >> talking about the search for yield and reach for yield, but we tend to think of it strictly in terms of the equity markets, not muni bonds as much as we did, say a year ago. >> it's easy owe make will call because munis got hurt on the detroit concern. is that an issue we'll see further problems with other municipalities down the road? >> that's a great point, bob. i think you'll see more complicated issues per state, but those are the ones where, you know, a good portfolio manager is going to look and say what are the revenues and tax revenues that will always be there? we'll be in our cars and rvs passing through turn pikes. >> you betcha. >> but it's an important point, and also to your point about china just getting back to the global markets. you're looking at a pe ratio going forward in the capital markets in europe about 12 to 13 times versus the united states which
of obama care exchanges. in an interview last night, wisconsin governor scott walker warned employers can't afford the uncertainty of the affordable care act. >> we need certainty. the fact is, employers aren't seeing it. the political pressure they push back on the employer mandate, but there is incredible uncertainty about the so-called affordable care act. i visit the firms, the companies, small businesses, we don't know what is going to happen next. we're not going to take the risk, even though we have the potential to grow our economy, we have the customer base that wants us to produce more, we're reluctant to go over the 50 mark, the full-time rate. >> where does this all go next? >> for someone to say there is uncertainty in obama care, that is not the lead, obviously. you'll hear things like that from scott. the two aspects is one, yesterday, the president, up with of his hometown papers in chicago, the tribune said, bottom line, in an editorial, bottom line, let's delay and rewrite this ill conceived law, three years of attempting but failing to make this clumsy monstrosity work
and the health care worries and back and forth on the taxes and obama wants more and we are tapering. perfect. just great. >> well, things could be worse -- you could be in india and watching the currency decline by 4% per day. >> you could be in indonesia and watching a similarly currency going down. >> the rupee. >> yes. and that is a fact. >> and the fact is that the dollar buys more rupees than you can see, whoa! any time a major currency moves almost 4% in a day, this is of course, the impact that you would expect of making indian exports cheaper which will benefit us, but a consumer-led economy there where they are trying to bring it in is complicated and then bring in a lot of goods and send them in and back out, and the equity markets there have not been performing well. >> and you are, we have not talked enough about the merging markets. >> well, they have been crushed. when you talked about the taper talk or the okay, what happens when, and forget about when qe ends, because it is not that the merging markets will take et the worst, because all they are built on is cheap money, and
american citizens not to travel to pakistan. meantime, president obama will hold a news conference this afternoon at the white house before leaving for vacation on martha's vineyard. andrew? >> we got a couple of corporate stories to talk about. big one, the jpmorgan now reportedly close to reaching a settlement with security regulators over the so-called london whale trading losses. bruno iksil, he was the whale in some ways, he's not expected to face charges related to the incident. apparently, by the way, he's talking and made some kind of deal or may be making a deal with the s.e.c. the other component of this is that as part of whatever settlement the s.e.c. reaches with jpmorgan, they might have to admit some form of wrongdoing or some form of admission -- >> why would the s.e.c. cut a deal with that guy when he was the rogue trader doing things that the management at the bank -- >> unclear he was the rogue trader. it seems like what has happened is as the story developed that his boss and his boss' boss may have been more rogue than he was. not iona drew. >> a few layers --
have a double whammy for home building stocks. last week president obama came out gave a speech on fannie and freddie arguing they ought to be wound down and replaced by another agency. you saw what happened on that, david, home building stocks went through the floor last week tuesday and wednesday. so now we have a double whammy, the concern about higher rates and concerns about less government support overall. that's a real problem. and the itb, the main etf for the home building industry hit a new low for the year, but it wasn't on the rates, it was on concern about fannie and freddie and the lack of support there for the mortgage market. guys, back to you. >> thanks very much, bob. that's still to come. fannie and freddie. that will be a long -- >> begin today just a football security. don't know what's going to happen. >> even the preferreds are a real risk. time for a little bit of a faber report following up on a story here. our viewers have been covering mergers and acquisitions for a long time. but rare indeed when you see a consent solicitation of the shareholders for
the violence from escalating, which is why we had the statements from u.s. president barack obama, but the response from the egyptian government to what the president was saying has been a terse one. basically saying it is not based on fact, and it is actually encouraging armed groups. you imagine that kind of response from the egyptian presidency to what the u.s. presidency is saying. that shows you as well that there are a lot of tensions internationally as well about what is happening here on the ground. >> incredibly concerning situation. yousuf, please be careful and we will check back in with you later this morning. yousuf gamal el-din. >>> oil prices have been moving on the situation over in egypt. traders fear the unrest could filter over to crude producing nations or affect the suez canal which carries a large portion of the world's oil. analysts say worries the fed could soon trim the commodity friendly stimulus are curbing gains. >>> gold extending gains today hitting two-month highs. among the catalysts, strong buy from china and short recovering after the precious met
" top spot making $25 million. >>> president obama in washington after a vacation at martha's vineyard. he's got his work cut out for him. egypt, regulation and funding the government. john harwood joins us with the latest. what's top priority? >> top priority for the president that is meeting with financial regular laters. he returned from martha's vineyard to a vacation buffeted by the conflict in egypt and other things that are pressing on a national security basis, more revelations about the nsa as well. he's got a very economic, heavy agenda as he comes to back to washington. congress is still out. he meets with the whole array across the government of regulators about trying to keep pace with implementation of dodd/frank, only 40% of the regulations are done. volcker rule is most important, trying to get that done by the end of the year. the president has also got speeches in upstate new york to press his agenda for a middle out economy. that is not likely to go too far with republicans but he's trying to soften up the ground for the fiscal debates this fall. the president has th
to work. >> you pass laws that make it more expensive to hire like obama care or raise the minimum wage, that hurts young people dramatically. >> simple cause and effect for how it is happening. people at the high end are hogging more of the overall income, that's not simple enough to explain what is happening here. >> i wouldn't dissuade you of that view. we talk about minimum wage. you don't necessary necessarily think that's t think that's wait to go either. >> this is why the huffington post writes about you, from a negative. you do sound reasonable at times. >> i can't -- >> not all the time. no. not under any means, but okay. >> coming up, why the markets were so confused by yesterday's fed minutes. did you see the intraday chart from yesterday? up, down, all over the place, crazy. what you should expect in today's session. "squawk box" will be right back. i hav e low testosterone. there, i said it. see, i knew testosterone could affect sex drive, but not energy or even my mood. that's when i talked with my doctor. he gave me some blood tests... showed it was low t. that's it. it
a lot of dough, the president, current president, president barack obama, ramped it up. there was no chirping then. i didn't hear chirping going we're going to hit $16 trillion at midnight, let's party! no. but the effects of less government spending definitely going to slow things down because you're not paying for it but it's a good thing. somebody broke the silence, i think it was bank of america, victoria mcgrain from "wall street journal" wrote a piece on wall street journal.com and it talks about the agenda for jackson hole. it's august 22nd to 24th. think about what i was saying. wouldn't it be nice if central bankers got together and tried to really figure out how to solve some of the structural issues? but the topics that were put forth, same old thing. the natural rate of interest, financial prices at zero lower bond, the transition of unconventional monetary policy. global liquidity, cross border cap flows. it seems to me that these are the same old topics, the crisis has come and gone. maybe we need to shake things up a little bit like one of those snow glob
to stop president obama reform plan. they said they should remember the political backlash the republicans suffered in 1995 and '96 because of the government shutdown. he says he is committed to stopping obamacare. we will be watching retailer aeropostale today. they say it expects another loss for the current quarter. it issals increasing the number of stores that it plans to close. all right. let's get back to the nasdaq. andrew. >> hey, thanks, michelle. i am joined by bob greifeld ceo of nasdaq omx. the man of the moment. we hope we can try to figure out what happened here. obviously, a lot of frustration. i don't need to tell you how much frustration. just explain, if you could, what exactly happened? i think most of us don't understand. >> sure. what happens is that we have a data feed which consolidates the trading for 13 exchanges. we do that for the industry. had a problem. as soon as we saw that had a problem, we had a fundamental concern. we few professional traders had access to individual data feeds, be you the traditional long investor, retail investor didn't have the same in
in a strike. do you think that the obama administration could possibly go it alone? >> i think it is becoming increasingly difficult. the momentum seems to be slowing down. if you remember yesterday we were getting records from u.s. officials saying that the train was out of the station, it was too late to dial back, and it was coming and they were talking about it starting today. i can tell you even here we were beginning to make our plans, how we were going to cover the events if suddenly bombs were falling on dadamascus. now, you have the arab league saying it doesn't support military action. the red cross saying it doesn't support it. egypt saying it wouldn't back a military action. the uk labor party wanting to slow things down and have two votes to authorize military strikes. today the administration is supposed to give a briefing about why it believes that chemical weapons were definitively used by the bashar al-assad regime. the longer this goes on i think the less momentum you're going to have and more doubt injected into the process. >> nbc's richard engel for news turkey this morni
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